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OREDA goes digital with new collaboration to improve accessibility and efficiency for oil and gas industry reliability data

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Houston, TX, US, 7 May 2019: Vast amounts of offshore and onshore reliability data are to be made available through Veracity as OREDA provides access to their new and updated electronic version through the marketplace on DNV GL’s data platform.

For almost 40 years now, the OREDA consortium formed by several oil and gas majors and supermajors with worldwide operations has been collecting and exchanging offshore and onshore reliability data, with the main aim of improving safety, increasing availability and reducing maintenance costs.

Data from more than 292 installations, 18,000 equipment units with over 41,000 failure and 77,000 maintenance records has been collected and analysed. The databank also includes 55,000 subsea components with close to 3,000 failures and 1,000 maintenance records.

For many years, the OREDA handbook has been the leading source of reliability data for the global oil and gas industry. DNV GL, SATODEV and the OREDA member companies have formed a new collaboration which aims to make the data even more accessible and interactive via DNV GL’s Veracity data platform.

The OREDA software and dataset will be available by subscription from the Veracity marketplace, which has over 1 million subscriptions to digital solutions and services across the maritime, oil and gas and energy sectors.

“Since the issue in 2015 of the last OREDA Handbooks, we worked hard on creating a new way of accessing data. Over the last few years, a tool named OREDA@Cloud has been developed to allow both the members and the external users to apply filters and analyse the OREDA reliability database that will be stored in the Cloud. This new solution developed by the French IT service provider SATODEV will be distributed very soon through the Veracity market place proposed by DNV GL.

“After more than 10 years of a real “win-win” relationship with DNV GL as JIP Project Manager, all OREDA Company members are very happy to collaborate again with this historical partner in the frame of this very exciting digital evolution. “DNV GL being a brand renowned worldwide for its innovative solutions and the high quality of its proposed services, we are all very confident in the fact that distributing OREDA@Cloud through the Veracity platform will be a real step change in the way to access and use OREDA data,” says Nicolas CLAVÉ, Total’s representative to OREDA and JIP Steering Committee Chairman.

“Veracity is designed to help companies unlock, qualify, combine and prepare data for analytics and benchmarking. We see that the Veracity marketplace and eco-system enables connections among multiple stakeholders and data sets, thereby creating new insights and innovative solutions. We are thrilled to be working with OREDA with what is one of the most important and in-demand datasets in the industry. We look forward to delivering increased value to the OREDA members and customers by utilizing the latest digital tools and technologies available to us,” says Mikkel Skou, Head of Veracity by DNV GL.

Liv A. Hovem, CEO, DNV GL – Oil & Gas sums up “As an independent, neutral partner to the Oil and Gas industry, DNV GL is helping clients to collaborate and build trust in data and the systems that generate it. OREDA on Veracity is a great example of creating a digital solution, which will benefit the OREDA partners and the industry generally to work smarter and safer in a more efficient and cost-effective manner.”

About DNV GL
DNV GL is a global quality assurance and risk management company. Driven by our purpose of safeguarding life, property and the environment, we enable our customers to advance the safety and sustainability of their business. We provide classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas, power and renewables industries. We also provide certification, supply chain and data management services to customers across a wide range of industries.

Operating in more than 100 countries, our experts are dedicated to helping customers make the world safer, smarter and greener.

DNV GL is the technical advisor to the oil and gas industry. We bring a broader view to complex business and technology risks in global and local markets. Providing a neutral ground for industry cooperation, we create and share knowledge with our customers, setting standards for technology development and implementation. From project initiation to decommissioning, our independent experts enable companies to make the right choices for a safer, smarter and greener future.

About Veracity by DNV GL
Veracity by DNV GL aims to create an ecosystem to bring together all the key players in the maritime, oil & gas and energy industries, to drive business innovation and digital transformation. We aim to drive down the cost of innovation and collaboration, as well as the cost of deploying new services and solutions. Head to veracity.com to learn more.

About OREDA
The Norwegian Petroleum Directorate (now: Petroleum Safety Authority) initiated the OREDA Project in 1981. The primary objective was to collect reliability data for safety equipment. It was agreed that OREDA was to be run by a group of oil companies in 1983. The objective of OREDA was subsequently expanded to collect experience data from the operation of offshore oil & gas production facilities to improve the basic data in safety reliability studies. The OREDA project has since its start been run in phases normally lasting for 2-3 years. The OREDA phases with subsequent major activities and milestones are summarised in the table below.

In addition to the build-up of a large reliability databank, and the use of data by the participating companies, achievements in the OREDA Joint Industry Program include:

An ISO Standard based on the OREDA concept was issued in 2006 (ISO 14 224: Petroleum, petrochemical and natural gas industries, Collection and exchange of reliability and maintenance data for equipment)

Guidelines and software for data collection and data analysis

Publication of reliability data. Five public editions of a Reliability Data Handbook have been issued and sold in more than 50 countries world-wide

Data used in analyses for decision support for e.g. concept selection, design optimization

Exchange of reliability knowledge between the participating companies, and co-operation with miscellaneous parties such as manufacturers, research institutes etc.